Rising Treasury Yields Wipe Out Media Stocks Except One

Rising Treasury yields are causing a divide among media stocks, and the gap between the biggest loser and the name that's holding steady reveals which companies are absorbing the pressure.

The SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is down 0.28% to $771.04, while the Invesco QQQ Trust (NASDAQ:QQQ) has dropped 0.13% to $718.59.

Netflix (NASDAQ:NFLX) stock is down 4% to $79.16 as higher yields squeeze its high-multiple shares. Meanwhile, Walt Disney (NYSE:DIS) is down 2% to $105.37, giving back less than Netflix due to its diversified business with parks, sports, and consumer products.

Warner Bros. Discovery (NASDAQ:WBD) stock is down just 0.3% to $28.28, effectively unchanged as its pending deal math and compressed multiple insulate its shares from rate-driven repricing.